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You can avoid getting depressed about being unable to earn a living from skills you've taken a lifetime to acquire. Skills employers dismiss on the basis of your age. Baby boomers have a

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

n oversupply of a marketable commodity many consider worthless. Life Experience is what they have plenty of.

As a baby boomer you hold the bulk of the world's knowledge and talent in y

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ur heart and head. You need a fresh revelation that whatever you learned to enter the work force - and to stay there - has a value to the rest of the community.

The secret lies in the p

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ackaging.

Convert your knowledge and skills into information products and you will have created a Cash Cow that will last more than 20 years.

Information is one of the hottest products

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

on the market today. You can successfully sell information products, relating to your workplace skills, on the internet providing you make use of the product development strategy of the

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

xperts.

It’s one of their best kept secrets. Would you like to know what it is ?

OK. They have a checklist they go through when developing each of their products. You can secure your ow

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

n success by applying this checklist to every potential information product you are wanting to launch.

Here it is.

The Experts Information Product Development Checklist

1. Does the Pro

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

uct Solve a Problem ?

Does the potential information product, based on your babyboomer work skills and knowledge solve a know problem for a group of people?

Experts will not consider la

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

nching a product unless it provides a clearly identified and developed solution.

You will have seen many information products promising to assist users to launch a business on the intern

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

et. In most cases, in the sales letter for these products the authors will identify and explain the problem for which their product provides a solution.

2. Is It Unique?

Does the produc

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

have a USP? The experts spend considerable time developing their product’s Unique Selling Proposition.

They have used the economist’s trade tool , Product Differentiation, very successf

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

lly. It involves identifying, knowing, and being able to clearly explain to your client, the one feature that makes your product different from all those of your competitors.

As a babyb

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

oomer you will have a high level of product knowledge and will have little trouble working out the USP.

To get this right make sure you can explain your USP to a loved one first. Have th

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

m give you some honest and open feedback on how easy it was to understand your presentation.

3. Will Clients See It As Valuable?

In particular will they see it as having a value many ti

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

es the price. One of the best ways to illustrate this is to us the example given by one of the experts. He holds up a dollar in a seminar and ask who would be interested in buying it .

T

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

here are no takers.

Then he holds up the same dollar and asks who would be interested in buying it for a nickel. A sea of hands shoot up. We all love value for money. If you are going t

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

sell a $30 product make sure your clients view it as having at least $100 value. That can be achieved by offering valuable free bonuses with your product.

Before you went from work to "

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

efirement" - hopefully missing the retirement experience altogether - you worked for years at a job where you were paid once for every hour you worked.

Today as an babyboomer information

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

product marketer you can choose to work a few hours to create products and then get paid over and over for the same work output every time someone buys one of your information products

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

You will no longer work for money. Money will work for you as you market yourself by creating information products based on your lifetime work experience.

Copyright 2005 Kenneth Littl

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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